Condemnation of conservation or open-space easement; compensation.
SB 342 mandates Virginia government entities compensate property owners for the reduced value of easement-restricted land when condemned through eminent domain.
SB 342 mandates Virginia government entities compensate property owners for the reduced value of easement-restricted land when condemned through eminent domain.
SB 342 establishes compensation requirements when Virginia government entities condemn property subject to conservation or open-space easements. The bill addresses how property owners should be compensated when land with existing easement restrictions is taken through eminent domain, requiring consideration of the easement's value reduction.
Property owners with conservation easements often receive tax benefits in exchange for restricting development. When government condemns such land, owners face potential undercompensation if the easement's impact on property value isn't properly calculated. This bill clarifies compensation methodology, affecting both individual landowners and public agencies undertaking projects on easement-restricted land.
Compiled from official sources — confirm details with the bill’s official record.
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